Master of Management online
The current study deals on critically analysing the newly launched Master of Management online by La Trobe University. The marketing program for this new consumer product has been conducted so that it can be effectively launched and commercialised in the market. Therefore, competitors of the university have been analysed which helps in knowing what their positions in the education industry. Moreover, SWOT analysis has been performed to know the internal and external environment that relates with the new product. Marketing mix and strategic communication are discussed in order to attract and make students about the new offerings. In the later section, some recommendations have been provided which can be beneficial for La Trobe University to attract the students from national and international country.
Developing a marketing plan requires understanding both internal and external business environment in order to outline the firm’s marketing and advertising efforts. It explains the activities of the businesses which are involved in attaining the specific marketing objectives within a time frame (Kotler and Keller, 2015). In this current study, marketing plan would be developed for the university, La Trobe University which has recently launched a newly Master of Management online for the students. Therefore, in the study, company, customer and competitors’ analysis would be performed so that a strong market could be created for the new product. Moreover, critical issues in the launch of new product along with targeting and positioning shall be discussed to gain better insight of the market.
La Trobe University is an Australian based multi-campus public research university. It is situated in Bundoora, Victoria. The university has nearly 36278 students from across the regions (La Latrobe, 2016). It offers various higher education programs so that the students can fulfil its desire or dreams in particular field. The university has strong name in the educational industry in Australia which helps them to attract more number of students under their campus. However, the university has launched a new Master of Management online for the students from all over the world so that number of students can study online and could gain master degree. Currently, the university has 13th ranking in Australia and is listed in 100 top universities worldwide. Therefore, in order to further improve its ranking, the university have launched an online higher education program. Moreover, launching this program would be useful for the university as it can list them in top list as the most preferred university by the students.
The education industry in Australia plays a crucial role in both the social life and economic of the nation. Australian’ education industry is well regarded for offering high quality national and international education and attracts number of students across the borders. It has been reported that each year more than 450000 students from 200 nations enrols for studying in Australian Universities. Behind tourism, education industry has become second largest services export sector in Australia which significantly contributes in the economic development of the country (Insightgroup, 2013). On the other hand, there has been growing demand for online education programs from the students that cannot attend the universities due to their personal or financial constraints. It has been observed that online education has significantly grown in Australia and is expected that it will further grow strongly.
Master of Management online
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